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Investing.com - RBC Capital raised its price target on Insmed (NASDAQ:INSM) to $120.00 from $108.00 on Friday, maintaining an Outperform rating following the company’s second-quarter earnings report. The stock has shown remarkable momentum, delivering a 58.31% return year-to-date and trading near its 52-week high of $113.10, according to InvestingPro data.
The firm cited growing enthusiasm for the potential launch of Insmed’s drug brenso later this year, with approval potentially coming on August 12. RBC noted that Insmed has established strong groundwork with payers, patients, and physicians ahead of the launch.
RBC Capital expects rapid adoption of brenso and has adjusted its estimates to reflect earlier-than-expected uptake. The firm’s price target increase was attributed to model updates based on these expectations.
The research note highlighted that Insmed’s existing drug Arikayce continues to show growth, contributing to the company’s positive outlook.
RBC also pointed to Insmed’s pipeline optionality, including additional Arikayce applications, TPIP (which the firm believes holds "best-in-prostanoid positioning across the respiratory disease segment"), and potential follow-on indications for brenso. With a healthy current ratio of 5.86 and moderate debt levels, the company appears well-positioned to fund its growth initiatives. For deeper insights into Insmed’s financial health and growth prospects, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Insmed Inc. reported its second-quarter 2025 earnings, revealing a revenue of $107.4 million, which exceeded the forecast of $103.41 million. However, the company experienced a larger-than-expected loss per share, with earnings per share (EPS) at a negative $1.70 compared to an anticipated negative $1.30. Jefferies has raised its price target for Insmed to $129 from $123, maintaining a Buy rating on the stock. This adjustment comes ahead of the Prescription Drug User Fee Act (PDUFA) date for Insmed’s brensocatib treatment for bronchiectasis, which is scheduled for August 12, 2025. Jefferies anticipates that Insmed will secure approval for this first-in-disease treatment. These developments highlight significant recent activities for Insmed, reflecting both financial performance and strategic expectations.
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